Fine Living: How To Become An Arts Patron

Look no further than the Latin origin of "patron" for a good general view of his function: From the word for father (pater), a patron fathers the artistic endeavor, typically for one of four principle motives:

Prestige: He shares in his artist’s success and enjoys the associated distinction;Pleasure: His pursuit is based in an appreciation of a particular craft;Piety: He’s driven by the “feel good” factor (an impulse more likely found in other forms of philanthropy);Profit: He uses a discerning eye and applies an investor’s mentality to the bottom line.

The notion of a patron has changed considerably over the years. For centuries, the system of patronage was private and personal; patrons directly supported the lives of their artists and benefited from their successes. One of history’s more well-known examples of individual patronage was Pope Julius II’s support of Michelangelo throughout his work on the Sistine Chapel.

Today, the system is publicly based and can be starkly impersonal; patrons give cash in the form of endowments or grants to museums, universities and the like, who then direct those funds. As such, the majority of these opportunities have a tendency to reduce a patron’s involvement to the absolute necessity: his wallet.

show your patronage

Most methods of becoming a patron are ready-made and prepackaged, while others are carried out from scratch. Either way, it almost goes without saying to consult a tax specialist before you begin this kind of venture. Nonprofits or tax-free foundations may serve you better than unprotected lump-sum investments.

Donations

An artistic organization that routinely refuses cash donations has yet to be established. This is the easiest method of patronage and features the least amount of hands-on involvement.

Most large artistic organizations have tiered levels of giving in place that strive to reward the higher donors. A one-time donation of a certain amount earns you a set of special privileges within that organization. For example, at the Minnesota Orchestra, $25,000 buys you membership in the Founder’s Society and a host of privileges, including dinner with the music director and the tantalizing if vague prospect of designing other benefits around your own preferences.

The actual destination and impact of your financial patronage is unknown; it goes into the hands of people who may or may not be good promoters, money managers and talent scouts. A donor should do a fair amount of research with the hopes of avoiding putting his money into the hands of criminals like William Aramony. Although Aramony led United Way, a charity organization, the danger exists that your money could be funding weekend trips to Greece for upper management instead of having a direct impact on the arts.

Endowments

An endowment is a one-time financial gift to an organization meant to last in perpetuity. They invest the principle and, using a portion of its annual return, fund a wide range of endeavors, including research programs, scholarships, and even sabbaticals. A named endowment simply carries the donor’s name. While the notion of ”in perpetuity” may nudge a little at your cynical side, consider the professorship endowed by Lady Margaret Beaufort at Cambridge University; in 2002, it celebrated its 500th anniversary.